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American Express agrees to pay more than $138M to resolve investigation into sales and marketing

Under the terms of the agreement, American Express will pay a $77.7 million criminal fine and forfeit $60.7 million, which represents the net revenue attributed to sales of the wire products, according to the U.S. Attorney’s office.

FILE – An American Express card is shown on Jan. 18, 2024, in Atlanta. (AP Photo/Mike Stewart, File)
FILE – An American Express card is shown on Jan. 18, 2024, in Atlanta. (AP Photo/Mike Stewart, File)
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The New York-based financial giant provided inaccurate tax advice to customers and potential customers on wire products primarily marketed at small and mid-size businesses, federal prosecutors said.

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